Welcome to Start Up Loans, a British Business Bank programme

Thinking of starting or growing your own business? 

Scroll down this page to learn more and when you are ready, click Apply for Funding

 

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STEP 1
CHECK ELIGIBILITY & REGISTER

– Click ‘Apply for Funding’ below and complete our eligibility check

– If you’re eligible we’ll ask you to register and you’ll receive an email with instructions about how to start your application

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STEP 2
COMPLETE AN APPLICATION FORM

– We’ll ask you for more information and complete an initial credit check

– If you pass the initial credit check we’ll ask you to submit a Business Plan, Cashflow Forecast and Personal Survival Budget

– You’ll be assigned a Business Advisor who will work with you to complete your application

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STEP 3
FINALISE BUSINESS DOCUMENTS

– Your Business Advisor will assess your application focusing on personal affordability and business viability

– If your application is successful we will offer post loan support and connect you with our Finance Partner who will administer the funds to you

Over 75,000 business ideas supported with more than £600 million worth of loans
We offer free mentoring and low-interest personal loans to help you start or grow a new business.
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Borrow up to £25,000
(The average loan amount is £7,200)

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Fixed interest rate of 6% p.a.

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1 – 5 year loan repayment term

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No set up or early repayment fees

A great alternative for individuals looking for business loans to fund a startup.
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Pre-loan support with business plans and cash flow forecasts

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12 months of free mentoring for loan recipients

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A range of useful templates and start up guides

Am I eligible?

If you’re starting a new business or have been trading for less than two years, then you’ve met the first criteria for securing a Start Up Loan. Check out the other criteria below to make sure you’re eligible before applying.

 

Am I Eligible? 

If you’re starting a new business or have been trading for less than two years, then you’ve met the first criteria for securing a Start Up Loan. Check out the other criteria below to make sure you’re eligible before applying.

 

To be eligible to apply for a Start Up Loan, you must fit the following criteria:
To be eligible to apply for a Start Up Loan, you must fit the following criteria:
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You’re 18 years of age or older
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You’re a current UK resident
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You’re starting a new business or have been trading for up to 36 months

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You’re unable to secure finance from other sources (self-declaration is ok)
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Your business is based in the UK
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You have the right to work in the UK
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Your business type and loan purpose is eligible under terms of the scheme

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You pass our credit checks and you can afford to repay the loan

Do you fit the criteria?

Apply today and get support creating your Business Plan and Cash Flow Forecast.

If you are in a business partnership, buying an existing business or starting a franchise, you are able to apply for a Start Up Loan if you fit the criteria above. Scroll down this page to find out more about the process for these applicants.

If you are in a business partnership, buying an existing business or starting a franchise, you are able to apply for a Start Up Loan if you fit the criteria above. Scroll down this page to find out more about the process for these applicants.

Excluded business types

Most business types are eligible to be funded with a Start Up Loan, however we are not able to support the following business types*:

  • Weapons
  • Chemical manufacture
  • Pornography
  • Drugs
  • Illegal activities
  • Banking & money transfer service, and other FCA regulated activities
  • Private investigators that do not hold the appropriate licence
  • Gambling and betting activities
  • Property investment
  • Agents for third parties, where a third party earns the majority of the revenue or you would only be earning a commission (not to be confused with franchise businesses which are eligible to apply)
  • Charities

Excluded loan purposes

Start Up Loans are designed to finance the initial costs of starting and developing a business, and therefore cannot be used to fund the following activities*:

  • Debt repayment
  • Training, qualifications or education programmes
  • Investment opportunities that do not form part of an on-going sustainable business
*Other exclusions may apply and The Start Up Loans Company reserves the right to update this list at its discretion.  Please contact us if you have any concerns or questions.

*Other exclusions may apply and The Start Up Loans Company reserves the right to update this list at its discretion.  Please contact us if you have any concerns or questions.

The application process

When you apply for a Start Up Loan with us, we’re not just processing a financial transaction, we’re helping you build a business. Our application process focuses on giving you the support you need to succeed, while keeping you informed and in control at every stage.

 

The Application Process

When you apply for a Start Up Loan with us, we’re not just processing a financial transaction, we’re helping you build a business. Our application process focuses on giving you the support you need to succeed, while keeping you informed and in control at every stage.

 

Credit Check and Loan Assessment

During the application process, we will undertake a personal credit check with a Credit Reference Agency (CRA). We will also run a series of other checks with Fraud Prevention Agencies (FPAs) to validate both your personal information and bank account details.

Our overall loan assessment will also take into account the strength and viability of your business, demonstrated through the Business Plan and Cash Flow Forecast and the affordability of the loan through the Personal Survival Budget you submit with your application.

Business partnerships

Where there is a business need, multiple business partners can individually apply for a Start Up Loan of up to £25,000. However, please note we can only lend a maximum of £100,000 to any one business. Each partner’s application will be assessed separately, and if successful, each individual will be personally liable for their loan.

Purchasing existing businesses

You are still eligible to apply for a Start Up Loan if you are purchasing an existing business, even if that business has been trading for more than two years under different ownership, provided you personally have not owned the business for more than two years.

Please note, you will be required to have sourced a copy of the financial accounts for the business along with your application. Furthermore, if the business was previously or is currently at a loss you will be expected to address this issue directly in your business plan.

Franchises

Provided you fit the criteria listed on this page, you can apply for a Start Up Loan to support your franchise business. You will be entitled to the same benefits including 12 months of free mentoring and exclusive business offers.

Our success stories

We’ve already backed thousands of businesses around the country with a Start Up Loan. Read on to find out about some of our success stories and how our support helped them turn their dreams into reality.

Amy Barker

Amy Barker

“I felt like if I was working that hard, I would rather be working that hard for myself – that’s what really pushed me.”
David O'Neal

David O'Neal

“Mentoring was a brilliant element to the loan itself. Having a mentor through the start up process really helped.”

Meriel Kehoe

Meriel Kehoe

“Start Up Loans give you the cash and the business support to make it work, it’s a complete package that can’t be beaten.”

Amy Barker

Amy Barker

“I felt like if I was working that hard, I would rather be working that hard for myself – that’s what really pushed me.”
David O'Neal

David O'Neal

“Mentoring was a brilliant element to the loan itself. Having a mentor through the start up process really helped.”

Meriel Kehoe

Meriel Kehoe

“Start Up Loans give you the cash and the business support to make it work, it’s a complete package that can’t be beaten.”

Ready to kickstart your business journey?